9. You have to choose between two mutually exclusive investments: Project C C2 C -500 700 0 -500 0 800 a. Calculate the IRR for each project. Which project would you choose based on the IRR rule? b. Which project would you choose based on the NPV rule? Consider the following two scenarios for the cost of capital: i. Assume that the cost of capital is 6%. ii. Assume that the cost of capital is 16%. c. For what range of values for the cost of capital would you choose project C and for what range of values for the cost of capital would you choose project D? Briefly motivate your answer.